The Blu-Ray Ring of Death.
Y'know, if I didn't like you so much starcraft, I might have gotten angry comparing the PS3's error message to the RRoD.
But since this is not as widespread as the RRoD *cough* 30% failure rate *cough*, then it's probably a few isolated incidents.
I think a better nickname would be the 'Code of Death', or 'Death Code', or in 1337-speek, the 'Boosolit'.
Also, you can still do other things on the PS3 when you get this, just not play games. You are able to surf the internet, fold, play PSN games, watch movies (on your hard drive/comp), view photos, and listen to music. Unlike the RRoD, which reneders your XBOX 360 useless, the Boosolit is only about the BD Drive. At least that's what I've heard.







